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Parliament Adopts Energy Bill, NBP Reports Core CPI

POLAND
  • The lower house of parliament (Sejm) approved a draft bill capping household energy prices at PLN500/MWh in 2H2024. The bill will now be sent to the Senate for review before being submitted to the Presidential Palace. This reduces uncertainty around energy prices and the inflation path in 2H2024, which is one of the key factors currently monitored by the NBP.
  • A United Surveys opinion poll for WP.pl showed that if a presidential election was held today, Civic Coalition's Rafal Trzaskowski and Law and Justice's Mateusz Morawiecki would advance to the run-off with 29.6% and 25.5% of the vote respectively, should they indeed both decide to run. Sejm Speaker Szymon Holownia would garner just 13.8% of the vote.
  • The NBP will release core CPI data for April at 13:00BST/14:00CEST. Analysts expect it to print at +4.1% Y/Y (according to Bloomberg's survey of analysts) versus +4.6% recorded in March. These figures typically fall in line with expectations, as estimates are prepared based on detailed CPI data released earlier, hence there is little potential for major surprises in the release.
  • Poland's political scene may experience another turbulence as the government and the President are set to clash over who should have the final say in nominating the Polish EU Commissioner.

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